How Do I Close My American Express Credit Card?

More consumers are looking for ways to streamline their finances and cut debt. One of the ways they do this is through closing credit cards to reduce their consumer spending. You may be thinking of closing your American Express credit card, but how do you go about it? Here are the steps to closing your American Express credit card. You can also get information and assistance from American Express customer service here.

Things To Consider Before Closing Your Card

While closing your American Express credit card can have some advantages when it comes to decreased spending and lower overall debt, there are some things to think about before closing.

1. Closing your American Express credit card will affect your credit utilization ratio. Even if the card is completely paid off before you close it, your overall available credit will go down. Other credit cards or lines of credit will show their current balances against your new available credit amount. If this puts your utilization ratio above 30 percent, this could cause your score to go down.
2. Closing your American Express credit card can also decrease your revolving credit lines or your credit diversity. This can also impact your credit history and can be a factor when applying for other lines of credit.

How To Close Your American Express Card

There are three ways you can close your American Express credit card: online, over the phone or through the mail.

Online

To close your American Express credit card online, follow these steps:

1. Open the American Express website.
2. Log into your account.
3. Open the "Chat" to speak to a customer service representative.
4. Give the chat representative your name, card number and let that person know you want to close your account. The representative will assist you in closing your American Express credit card.

Over the Phone

Calling American Express is the preferred method. You can contact customer service here to close the account.

Via Mail

You can also send a letter to American Express at the address listed on the back of your paper statement (or listed on the American Express website). Include the following:

1. Date of the request
2. Your full name, address and phone number
3. Credit card/account number
4. Official request to close the account
5. Request for a refund of annual fees (if you close the account within 30 days of the annual fees being charged to your account).
6. Include that you wish American Express to notify the credit reporting agencies that the card was closed at the request of the cardholder.

Other Points To Remember

There are some other things to remember when you close your American Express credit card:

1. If you are a rewards member, you will lose all your accrued rewards points unless you have another American Express card you transfer them to, or cash them out before closing the card.
   
2. Your credit score may dip a few points initially; however, it will bounce back in a few months.

Closing your American Express credit card can help you take greater control of your finances and reduce your overall indebtedness. For more information or support, contact American Express customer support here.